LG Chem said Monday that it has begun mass production of high-nickel single-crystal cathode materials for next-generation batteries at its plant in Cheongju, North Chungcheong Province, making it the first Korean company to do so. "High-nickel single crystal cathode materials are an innovative solution that will transform the landscape of the future battery material market and address customers' needs,” said Vice Chairman and CEO Shin Hak-cheol. Cathodes are a core component that

Innocean Worldwide, the marketing and communications agency affiliated with Hyundai Motor Group, said Thursday that its Spanish subsidiary has recently topped a client satisfaction ranking conducted by Spain’s biggest consulting and marketing research firm Scopen. Some 1,600 local marketers participated in Scopen’s latest survey, evaluating agencies with more than five advertisers based on criteria such as creative and strategic planning skills, price competitiveness and digital capa

Ahead of this year’s vacation season, carmakers are increasingly launching crossover vehicles that combine the comfort of sedans with the roominess of SUVs. Swedish carmaker Volvo is no exception. Its crossover lineup, dubbed “Cross Country,” offers an “All-Road Package” suitable not only for outdoor activities like travel and camping, but also for daily driving. According to the carmaker, the lineup consists of the V60 CC and V90 CC, which provide ample cargo space

Hyundai Motor Group's promotional videos for Busan’s bid to host the 2030 World Expo racked up over 100 million combined views after the first video was released three months ago, the country's top automotive group said Monday. The promotion campaign comprises 37 videos, which include two videos targeting the global audience, and 35 short-form videos addressing individual member countries of the Bureau International des Expositions, the international body responsible for overseei

Hyundai Elevator said Sunday it has won a contract for its largest-ever order, worth 43.4 billion won ($33.9 million), to build elevator and escalator units at a large apartment complex in Seoul. The order involves the installation of 314 elevator and escalator units in the reconstruction of Dunchon Ju-gong Apartment in Gangdong-gu, Seoul. This is the largest contract that Hyundai Elevator has ever secured in terms of both the total number of units and the contract sum, the company said. "T

General Motors said Friday it has appointed Hector Villarreal, vice president of vehicle sales, service and marketing at GM Mexico, as its Korean unit’s new president and CEO, effective from Aug. 1. Kicking off his career at GM Mexico in 1990, Villarreal has held various positions within the company across several branches. He has served as president and managing director of GM Operations in Uzbekistan, managing director of GM Russia and president of GM Southeast Asia. In his most recent p

South Korea’s Minister of SMEs and Startups Lee Young met with Bernard Arnault, chairman of French luxury goods conglomerate LVMH Group, to exchange opinions on possible collaboration between Korean startups and LVMH brands, the ministry said Friday. The minister was visiting Paris to attend the Viva Technology 2023, one of the largest startup and tech events held in Paris from Wednesday through Saturday this week. During the event, she met with several executives from French companies to

South Korean telecommunications equipment provider Dasan Networks said Thursday it is seeking to join forces to rebuild the power grid and communication network of Ukraine. The company’s European business chief, Ra Gil-joo, attended the annual conference of the International Energy Cluster held in Kyiv on June 7, during which he introduced the company’s will to help rebuild the war-torn country. “We plan to participate in the prioritized reconstruction of power and communicatio

This year marks the 50th anniversary of South Korea’s postwar land restoration initiative. To commemorate this anniversary and contribute to global restoration and reforestation, the Korea Forest Service is actively engaging in various programs with the United Nations Convention to Combat Desertification, or UNCCD, to prevent the proliferation of land degradation and desertification in developing countries. The Korea Forest Service first joined the UNCCD -- one of the UN’s three en

Jung Gyu-ri, CEO of medical company Mediforest and the winner of the 2022 Mrs. Korea pageant, is set to compete at this year’s Mrs. Globe 2023 in California from June 20 to 25. Mrs. Globe is regarded as one of the most prestigious and competitive international beauty pageants in the world, where women from over 100 countries aged 25 and up vie for recognition of their outstanding intellect, humanitarianism and beauty. Jung expressed her determination to represent South Korea on the global

South Korean food company Daesang said Wednesday it had completed a sample production of cadaverine, a biologically derived chemical that can replace petroleum-based substances in the production of nylon and other polymers. This comes in an effort to expand its business in white biotechnology -- a process that uses living cells from plants, enzymes and microorganisms to produce value-added chemicals, materials and fuel at a lower carbon cost. "We are conducting research and development of v

Hyundai Motor’s electric compact Kona Electric is set to hit the 300,000 mark in cumulative sales next month, solidifying its position as one of the bestselling electric vehicles manufactured in Korea. As of April, a total of 285,138 Kona Electric cars have been sold since its official debut in 2018, according to the carmaker’s investor relations data released on Monday. Overseas sales accounted for 258,663 units -- nearly seven times the amount of domestic sales. Over 50,000 units w

HD Korea Shipbuilding and Offshore Engineering said Thursday it has participated in Nor-Shipping 2023, an exhibition where Norwegian and international companies showcase solutions and innovations for maritime business and sustainable ocean development. HD Hyundai President Chung Ki-sun and HD Korea Shipbuilding & Offshore Engineering Vice Chairman Ka Sam-hyun also attended the event, which was held in the Norwegian capital of Oslo from Tuesday through Friday. During their visit, the top ex

Information technology service provider LG CNS said Wednesday it signed a deal with US tech conglomerate Honeywell to spur innovation in the smart factory industry. Smart factories are digitized factories that depend on device connection, machinery and production systems to collect and share data for the optimization of manufacturing and supply chain management. They involve various innovative technologies such as artificial intelligence and cloud computing. The two companies agreed to work toge

Over 70 percent of those who own lavish penthouses at Signiel Seoul – an upscale residence located throughout the 42nd to 71st floors of Korea’s tallest building, Lotte World Tower – were revealed to be corporations, according to a news report by the Herald Business on Monday. The Signiel Seoul, which was completed in April of 2017, has a total of 223 housing units, including seven penthouses and 11 duplex-type sub-penthouses. Based on real estate registrations, the Herald Busi

South Korea’s second-biggest carmaker Kia said Monday it has appointed John Buckingham, a UK veteran automotive designer, as the exterior design chief of its next design group. Buckingham has worked in the automotive industry since 2005 when he joined BMW as an exterior designer. While working at the BMW Designworks studio in Los Angeles, he also led the design of the 8 Series concept. Then, he moved to UK luxury carmaker Bentley in 2018 and to Faraday Future, the US-based electric vehicle

Hyundai Oilbank is ramping up efforts to fulfill its environmental, social and governance goals by accelerating its sustainable businesses and contributing to social enrichment, the company said Friday. As part of the efforts, the company is set to build an eco-friendly power plant that uses both liquefied natural gas and blue hydrogen as fuel. Hyundai E&F, the oil company's power generation affiliate, will build a power plant with a capacity of 230 metric tons of steam per hour and 2

LG Chem CEO Shin Hak-cheol traveled to Japan to host a recruitment event, as the company seeks talent to boost its material, biotechnology and equipment sectors, the chemical firm said Friday. Shin hosted the “Business and Campus Tour” at the Intercontinental Tokyo Bay Hotel on Thursday, which invited some 40 doctoral candidates and master's students in science and engineering from seven major universities in Japan, including the University of Tokyo and Kyoto University. “

Hyundai Motor Company launched a revamped version of the Palisade in Korea with enhanced safety features on Friday. For the latest Palisade 2024, the automaker introduced a new trim, dubbed Le Blanc, which has been equipped with various customer-preferred specs, including a smart power tailgate, 20-inch wheels, organic leather sheets, wireless smartphone charging and a surround-view monitor. The new Palisade 2024 has also been revamped with new safety features, including blind collision warning

Hyundai Mobis said Thursday it has begun the construction of its new electric vehicle battery system plant in Indonesia in its latest push for expansion into Southeast Asia’s burgeoning EV market. The automotive parts unit affiliated with Hyundai Motor Group held a groundbreaking ceremony for the plant in West Java, along the outskirts of Jakarta, on Wednesday, with local government and company officials in attendance, including Governor of the West Java Province Mochamad Ridwan Kamil and